Neptune Energy Group was established in June 2015 as an investment vehicle by alternative asset managers Carlyle Group and private equity firm CVC Capital Partners. The newly created firm was focused on “investing in large oil and gas portfolios that may come available as a result of current energy market dynamics… in particular across the North Sea, North Africa and South East Asia.” The aim was to “invest in and grow large-scale energy companies seeking capital and global management expertise,” said managing director Marcel van Poecke.
The Engie deal will be financed from funds managed by CVC Capital Partners, Carlyle International Energy Partners (CIEP – headed by Mr van Poecke) and “a group of co-investors,” Neptune says. The latest Neptune accounts, for the year to 30 June 2016, indicate turnover of just £1.2mn in 2016, and £100,000 for the year to 30 June 2015. But the firm was set up with the aim of investing up to $5bn in the right opportunity. (CONTINUED - 198 WORDS)